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State budget income increased this year

by December 20, 2016 Legal

Minister of Finance Bakhyt Sultanov informed this at a regular meeting of the Government chaired by the Prime Minister of Kazakhstan Bakytzhan Sagintayev, which is focused on the results of social and economic development of the country over 11 months of 2016.

According to the Minister, state budget income (without transfers) amounts to 5.8 trillion tenge. The performance above target is 396 billion tenge for state budget: 255 billion tenge for republican and 141 billion tenge for local budget.

The increase in revenues of state budget over 11 months is 31.8% compared to the same period last year, 41.1% for republican and 13.6% for local budget, B.Sultanov noted.

In general, the revenues of state budget are executed for 107.3%, republican budget � 106.6% and local budget � 109.1%.

According to the speaker, tax revenues will be significantly over-fulfilled by the year-end � to the amount of 250-300 billion tenge.

This will allow us not attracting the guaranteed transfer from the National Fund, the Minister of Finance concluded.

State budget expenditures increased by 20%, reaching almost 9 trillion tenge. The disbursement rates are better than last years. In general, the state budget is disbursed by 97%, republican budget � by 98.2% and local budgets � by 96.6%. The republican budget expenditures execution is expected to be around 98.6% by the year-end.

Source: Government of the Republic of Kazakhstan